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People with a credit rating considered "terrible" - in other words, a credit score that represents an increased risk to creditors - may, in their vulnerable position, fall victim to advance fee loan scams when applying for auto loans. Fraudulent advance fee loans are offers of cash or credit that come with a fee, to be paid in advance by the borrower...only no money is ever received, and no car can be purchased. Before financing a car purchase with a suspicious type of loan, learn how to recognize advance fee frauds and schemes by the common signs.
Do not jump at the first offer of cash or credit that comes along. The immediate need for a car coupled with a recent foreclosure, bankruptcy, or other credit-hurting event can make a person eager to take any auto loan offered, on the assumption it will be the only offer available.
Do not be rushed or embarrassed into signing any car loan agreement without reading the fine print. Fraudulent lenders typically use rapid speech and hustling techniques to make car loan applicants afraid they are inconveniencing the agent and taking up their time.
(732) 741-6501 · 801 Shrewsbury Ave, Shrewsbury, NJ 07702 · "I have gone there multiple times and have been very happy. I liked the older gentleman who I believe ...